KM#40 is catalogued as an "unauthorized issue" — meaning it was struck without the sanction of the Kiribati government or its designated issuing authority. Such pieces occasionally enter circulation or collections through private minting operations, often licensed through intermediary firms that retain broader rights than the issuing state realized it had granted.
Kiribati's official coinage has historically been produced under arrangements with foreign mints, creating jurisdictional ambiguity that these gaps sometimes exploit.
KM#40 is catalogued as an "unauthorized issue" — meaning it was struck without the sanction of the Kiribati government or its designated issuing authority. Such pieces occasionally enter circulation or collections through private minting operations, often licensed through intermediary firms that retain broader rights than the issuing state realized it had granted.
Kiribati's official coinage has historically been produced under arrangements with foreign mints, creating jurisdictional ambiguity that these gaps sometimes exploit.